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Suzo-Happ announced recently that it has completed the acquisition of two product lines from Crane Co., the Currenza C2 coin recycler for the European marketplace and the Bill-to-Bill banknote recycler for the global marketplace.
The rights to the Currenza C2 family of coin recyclers have been licensed by Suzo-Happ for the European marketplace on an exclusive basis whereby Crane Co. will no longer sell these products in Europe. The Bill-to-Bill banknote recycler business, including all assets, technology and patents, has been acquired by Suzo-Happ.
Crane Co. will provide transition services in order to facilitate the integration of both product lines into Suzo- Happ’s global operating structure. Suzo-Happ has also hired key employees for the product lines from Crane, including members of sales and technical service teams, in order to provide seamless support to its new and current customers.
“Completing the acquisition of these globally recognized market leading technologies represents a major milestone for our company and our strategic initiatives to expand our core technology and offering of manufactured products to key vertical markets,” said James Brendel, CEO of Suzo-Happ.
Suzo-Happ will continue to provide the high quality and reliable Bill-to-Bill banknote and Currenza C2 coin recycler products that global payment acceptance operators have come to expect and appreciate. These products’ modular design along with the tool-free service accessibility allows operators to select the configuration that is best suited to their application allowing the realization of bill or coin recycling benefits without incurring the upfront costs inherent to other products.
Marcel Oelen, Managing Director of Suzo-Happ Europe, added, “Including the Bill-to-Bill banknote recycler to our existing portfolio of component solutions for the transportation market significantly increases our value proposition to key customers throughout the region. The expansion of our long history of coin handling expertise with the addition of Currenza C2 gives us access to the growing vending market with substantial market share opportunities for our existing product lines.”